Ethereum network update was postponed to February 27

After the Ethereum blockchain developers failed to conduct another hardfork on January 16, they decided to move it to February 27. This was announced during an online conference with the participation of project leaders.

What happened this time

Just a day before the appointed date, January 15, ChainSecurity made a sensational statement. The company found out that the EIP 1283 update would give attackers access to conducting double transactions. That is, before confirming the transaction, they can successfully repeat the request for withdrawal of funds.

It is difficult to say how high the probability of detecting this vulnerability was, but the Ethereum team decided not to risk and put off hardfork until the situation was assessed. And now the news has come that the identified problem is indeed of critical importance. To eliminate it, you have to spend much time. And the developers decided not to interfere with the ready-made hardfork code.

According to their statement, the procedure will be held on February 27 in two stages. At the first one, the scheduled network update will take place. And immediately after this stage, re-hardfork will be launched. It is it that will remove the identified vulnerability.

Malevolent fate looms over Constantinople hardfork

It is worth recalling that this will be the third attempt to update the blockchain Ethereum. The first was scheduled for early October 2018. However, then the launch on the test network revealed an unplanned division of the blockchain.

Attempts to solve the problem quickly failed, and it was decided to move hardfork to January. Optimization and testing was previously conducted. But now, also, it was not possible to launch the Ethereum update. However, there is still hope that in February the team will finally succeed in realizing its intention.

Only one conclusion can be drawn from this story - the blockchain technology is becoming increasingly difficult every year. And individual teams just do not have time to solve all technical problems. Investors are anxiously watching this situation, the price of ETH dropped to $ 117.

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